Compare Life Insurance Policies In Australia

Posted by LifeInsuranceQuotesDirect on May 27th, 2013

Your life is precious; not only to you but to your loved ones. Life loss is equivalent to love loss, which cannot be covered by any means but as a responsible and loving family member you require to ensure that your family stays safe from the financial turmoil in case something unfortunate happens to you. Life insurance policies in Australia are subject towards providing protection for your family and loved ones.

The term life insurance is often confused with death benefits and insurance after death. However, it means more than just death benefits as there are numerous life insurance policies available in Australia covering different types of problems that can arise throughout the life.

Death cover or life cover: This type of life insurance covers death. If the insured person dies suddenly, the agreed or insured amount is paid to the next kin or the nominee. If the person is suffering from a terminal illness, the company can pay up to 100% of the insured amount of the family to carry out treatment and end of life care. This also covers the cost of the funeral in many cases.

Trauma insurance: In case a person suffers from a traumatic injury or a life threatening disease, he can claim the amount assured by the trauma insurance. This is a lump sum amount provided by the insurance company after it confirms the damage.

Income protection: In case of income protection insurance plans, if a person is injured or ill and cannot work, the insurance company pays up to 75% of the monthly income of the person to meet his regular financial requirements. Some policies include treatment costs of the insured person.

TPD insurance: TPD also known as to total or permanent disability insurance is something that covers permanent or total disability due to any accident or illness. If the person is not able to gain work for a span of six months and the expectancy of returning to work is not there, the person can claim the covered amount.

Funeral Cover: Funeral cover as the name suggests provides the immediate cost of funeral after the death of a person. This ensures that the last rights of the person are done properly without imposing any burden on the family members.

There are several insurance companies in Australia providing life insurance, but their norms and premiums differ. It would be a wise decision to compare rates online, before choosing a company for the policy.

Author Bio:

Life Insurance Quotes Direct provides you with access to a team of qualified Insurance advisors which assist its clients in comparing a range of personal insurance products such as:

1. Life Insurance

2. Income Protection Insurance

3. Trauma Insurance

4. TPD Insurance

5. Funeral Cover

At Life Insurance Quotes Direct they deal with Australia's most trusted life insurers who have built a solid reputation over the years. They compare insurance products from a range of insurers which include all of the major Australian life insurers.